Vancouver has again ranked second in an international listing of the world’s most unaffordable markets, but the city’s affordability has improved while Toronto’s worsened.
The ranking comes from Demographia, a U.S.-based urban policy consulting firm that opposes government policies containing urban sprawl (such as smart growth and densification plans), and argues that they lead to higher house prices by decreasing the supply of land. It released its ninth annual international housing affordability survey on Monday, which compares markets in Canada, Australia, Hong Kong, Ireland, New Zealand, the U.K. and the U.S. based on data up to September, 2012...............................................Full Article: Source